Business Identity as a Global Public Good

In line with the vision and direction of the G20, Financial Stability Board, and Regulatory Oversight Committee, the Global LEI System is maintained and offered to the world as a ‘broad public good’.

By mandating the use of the LEI in capital markets, the world’s regulators have already harnessed its power for good. These mandates have created unprecedented financial transparency, increasing market stability. They have also strengthened the world’s fight against money laundering, terrorism financing, and other forms of financial crime.

To enable more good to be done, the scope of the Global LEI System is expanding.

While continuing to provide critical support for capital markets, the Global LEI System is evolving to help businesses everywhere prove their identity and legitimacy across payments, value chains, digital infrastructure, digital assets, and other digital ecosystems.

The Global LEI System has grown into an international organizational identity management infrastructure and a global Digital Public Infrastructure (DPI).

What is Digital Public Infrastructure?

The World Bank defines DPI as “an approach to digitalization focused on creating foundational, digital building blocks designed for the public benefit.”

Source: The World Bank

As a ‘global DPI’, the Global LEI System provides standardized organizational identifiers that can connect to any national - or regionally managed DPI, anywhere in the world, to provide an internationally recognized and freely available business discovery facility. In this way, the Global LEI System can also serve as an interoperability layer, connecting diverse DPI ecosystems and schemes and enabling seamless cross-border flows of verified business identity data.

Enhancing data quality

Through its commitment to data quality and participation in a range of data quality initiatives, the Global LEI System is continuously increasing the quality and availability of business data for statistical, analytical and regulatory purposes, paving the way for an increasingly automated and AI-enabled future.

The goal is always to do more good by: helping infrastructures, businesses, and entities everywhere participate in the global digital economy; making trusted business information more accessible and verifiable globally; and protecting and enhancing data quality and integrity in support of the digital age.